Entrepreneur-turned-angel investor Sanjay Mehta, who has invested in over 130 start-ups, has launched a new venture capital fund, 100X.VC, and aims to invest in 100 early-stage start-ups over the next year.

The new firm will invest ?25 lakh to ?1 crore in start-ups with disruptive business models.

100X.VC would be the first fund to invest using iSAFE note (India Simple Agreement for Future Equity), an alternative to a convertible security note.

iSAFE, which avoids tedious documentation and cuts timelines significantly, permits an investor to make cash investments in return for a convertible instrument.

“The time has now come for India to make a huge leap in investing in start-ups, using globally successful models which will lend depth and scale to the VC industry in India. When start-ups become part of the 100X.VC ecosystem, they will get all that they truly need. For us, investing in 100 start-ups over the next 12 months is just the beginning,” Sanjay Mehta, founder and Partner at 100X VC said.

100X.VC

100X.VC is a sector-agnostic fund and will focus its investments in companies across a broad range of industries. The team would be headed by Sanjay Mehta, who had invested in companies including OYO Rooms, Box8, LogiNext and Block.One.

Former Aptech MD and CEO Ninad Karpe has joined the firm as a partner, while Yagnesh Sanghrajka — who had headed finance and strategy at firms such as Hinduja Group, Phoenix Mills Group and MT Educare — has joined as the Chief Financial Officer.

The company aims to be the first institutional investor in its portfolio companies and will go beyond mere funding.

SEBI-registered

Based in Mumbai, 100X.VC has received final regulatory approvals for Category I-Alternative Investment Fund licence and Investment Advisor licence from the Securities and Exchange Board of India.Read more